Post-War & Contemporary Art | 31 October & 1 November 2018

11.3. The Seller recognises the right of the Auction House to demand fulfilment from the Buyer who exceeds the payment term, or to proceed to the dissolution of the purchase or of first demand payment from the Buyer, and to then, if this demand is not successful, proceed to dissolve the purchase.

the Buyer during the Auction he would not have made the bid, the Buyer has the right to dissolve the purchase by written notification addressed to the Auction House, or to annull it on the basis of mistake or deception. 12.2. The Buyer may only use the right under article 12.1 within a term of one month, to be counted from the day after the Auction. 12.3. If the Buyer cannot return the goods purchased by him at Auction in the condition in which he received it the rights provided in article 12.1 are not valid.

11.4. All costs arising from or in relation to the

enforcement of its rights by the Auction House resulting from a purchase made by the Buyer during the Auction, including all costs arising from or in relation to any judicial and / or extrajudicial collection of sums not paid fully or on time will be for the account of the Buyer, without further notification being required. The amounts for these costs entered into the accounts of the Auction House will form full proof concerning the aforementioned costs, subject to evidence in rebuttal from the Buyer. 11.5. If the Buyer defaults on payment within the determined period the Seller and / or the Auctioneer has, without prejudice to any reimbursement for costs, damages and interest, the right to consider the purchase as dissolved without any judicial intervention or notice of default being required, and to re-auction an item, such re-auctioning to be done for the account of the defaulting Buyer and under such provisions as the Seller and / or the Auctioneer determine. The difference between the lower proceeds of the reauctioned lot and all costs, damages and interest, as well as all costs of the first Auction must be paid by the defaulting Buyer upon first request, failing which he will be in default, while he cannot profit from any higher proceeds and cannot claim reimbursement of the costs already paid. 11.6. If the Seller or the Auction House makes use of the aforementioned right to deem the purchase legally dissolved due to default, but does not proceed to re-auction, he can claim twenty five percent (25 %) of all the Buyer owes as a fine in lieu of reimbursement of costs, damages and interests. The Buyer cannot claim payments made by him, except that any partial payment of the purchase price is applied to the compensation for damages or fine, and any surplus must be restituted to him.

12.4. In case the Auction House relied on the

information of the Seller for the writing of the description, the Seller must fully safeguard the Auction House from all claims by Buyers or possible third parties as described in this article. 12.5. The Buyer does not have the right to a dissolution of the Buy if the description was recalled prior to or during the Auction and prior to the placing of a Bid, and if the corrected description was communicated to the public either verbally, in writing or via the website.

Article 13 Limitation of liability of Auction House

13.1. The Auction House is not liable for non receipt of a Bid which was made verbally, by telephone, in writing or electronically. The Auction House is not liable either for (technical) faults, amongst others in postal, telephone and internet services. 13.2. Without prejudice to the provisions of article 13.1 the Auction House is not liable in the case of malfunctions which occur either at the Auction House or at third parties. The Bidder accepts that he cannot hold the Auction House liable for these. In this way the Bidder accepts, amongst others, that it may be impossible for him to register, that he may not be able to make a (timely) Bid, or that his Bid may not be accepted or confirmed. 13.3. The Auction House is not liable towards the Seller or Bidder during the exercising of the right of refusal of a Bid or Bidder.

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Article 12 Hidden flaws and misleading description

12.1. If the Buyer is able to prove that the Seller or the Auctioneer knew that an item sold at Auction has a hidden flaw or that the description by the Auctioneer is so misleading that, if this hidden flaw or misleading description had been known to

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